Alternative to Kraken

Hi, I'm using Kraken to buy Bitcoin and then trading it for Dash. I'm highly unsatisfied with Kraken. They keep putting my deposits and withdrawals on hold for no valid reason, their customer support is (to put it mildly) unresponsive and the website itself is buggy.

What I like about them though is that I can deposit EUR via SEPA for zero fees and their 2. tier authorization doesn't require me to send an ID scan or proof of address.

Is there an alternative exchange with these properties that you use and would recommend? I also use Local Bitcoins but he premiums there are high compared to exchanges.

Dash Core TeamFoundation MemberModerator

Hey, depends on your country. You are obviously in Europe somewhere? Does bitstamp accept Euro deposits?

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Yes it does, I was about to suggest that. My experience with them in the past was great, but I switched to Kraken because they credited my SEPA deposits slightly faster, but both work quite well. When Bitstamp was hacked their response was great (they assumed the loss)... although you should not leave your funds there!!!!

Masternode Owner/Operator

I cannot speak of a good option in Europe to go from fiat to crypto. I wish there was a good one in Colombia.
I do prefer BTC-E now over poloniex because they don't ask any "security" questions. Actually, lately, I have also been using shapeshift.io for many exchanges you cannot make anywhere else for lack of trading pairs.

I cannot speak of a good option in Europe to go from fiat to crypto. I wish there was a good one in Colombia.
I do prefer BTC-E now over poloniex because they don't ask any "security" questions. Actually, lately, I have also been using shapeshift.io for many exchanges you cannot make anywhere else for lack of trading pairs.

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How do you buy BTC in Colombia Ed? I'm actually going there in Early Jan, and was wondering if i should attempt to fund my South America trip with crypto as i go. Do you think that is feasible?

Masternode Owner/Operator

wondering if i should attempt to fund my South America trip with crypto as i go. Do you think that is feasible?

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I am surprised at how few people know about any of the crypto coins here. If you don't speak Spanish or Portuguese, convincing people to take Dash or any other crypto is going to be very difficult right now. Changing that is going to take a lot of time and effort. I am working on it, one step at a time.

I am surprised at how few people know about any of the crypto coins here. If you don't speak Spanish or Portuguese, convincing people to take Dash or any other crypto is going to be very difficult right now. Changing that is going to take a lot of time and effort. I am working on it, one step at a time.

I use the spectrocoin platform. They are big supporters of Dash and I interviewed @TonyG from this company at the London Conference. I have a debit card from them, and there are loads of deposit and withdrawal facilities in various crypto and fiat options. Also, you can now switch between cryptos on this platform, 'off chain' with instant exchange and zero fees, just like on Coinbase. For full disclosure I would point out I am an investor in their ongoing ICO. You can also apply for an IBAN account, but there is thorough KYC for this facility. Just to let you know, I have KYC2 level with this company for the debit card.

Bankera/Spectrocoin are trying to bridge the gap between the old world fiat financial system and the new crypto economy.

I'm guessing that in order to stay (or get into) the good books of the financial regulators, they have to show that they are complying with all KYC requirements. Perhaps IBAN accounts require a face to face meeting, so Bankera have to offer a Skype interview as the next best alternative?

In any event, I bet it's a massive barrier for customer adoption which Bankera are obliged to enforce to their own detriment.

@dashinstant I'm also using their services and start using plastic card. I was just wondering about taxes. You pay with your Dash, but it's converted to EUR or USD before transaction. Do you think there is a requirement to pay taxes in your country similarly as you should do when you withdraw to your bank account?

I'm currently only using it for really small payments like occasional cups of coffee etc. This way it remains a long way below the annual threshold for declaring any capital gains in the UK. However, I'm not a Tax expert or advisor, so please do your own due diligence!

(I would like to use it more, but until clearer guidance becomes available I'll be holding back.)